Samsung has officially launched Samsung Pay mobile payments service in India. It has partnered with Visa, MasterCard, and American Express, who act as gateways. It also works with Paytm and coming soon to Unified Payment Interface. Here's Everything You need to know about Samsung Pay in India
It currently supports Axis Bank, HDFC Bank, ICICI Bank, SBI Cards and Standard Chartered Bank cards, and will soon support Citibank India. Here's How to use Swipe up on an eligible Samsung Galaxy smartphone (Galaxy S7 Edge, Galaxy S7, Galaxy Note 5, Galaxy S6 edge+, Galaxy A5 (2016), Galaxy A7 (2016), Galaxy A5 (2017) and Galaxy A7 (2017) currently),Select the card,Authenticate using a fingerprint or PIN,Bring the phone near the Point of Sale terminal

Samsung Pay will also be available on the Samsung Gear S3 Smartwatch soon. Apart from offer simply tap and pay on the go using the registered cards, Samsung Pay has Paytm integration so that you can pay by scanning QR codes securely, generating one-time codes for merchant payments and also do peer to peer money transfers, as well as the government’s Unified Payments Interface in the app.

Samsung Pay works with Samsung’s patented Magnetic Secure Transmission (MST) technology as well as with Near Field Communication (NFC). MST replicates a card swipe by wirelessly transmitting magnetic waves from the supported Samsung device to a standard card reader.

Through MST, Samsung pay will work seamlessly on a majority of Point of Sale terminals in India. It has three levels of security—fingerprint authentication, card tokenization and Samsung’s security platform Samsung KNOX.

Commenting on the launch, Asim Warsi, Senior Vice President, Mobile Business, Samsung India, said: Our insights show that convenience, security, and acceptance are seen by consumers as the most important influencers when choosing among different digital payment options.With Samsung Pay, we give our consumers the smartest way to make digital transactions by far. Samsung Pay is highly secure through the signature KNOX Platform, fingerprint authentication, and tokenization. We have partnered with major banks and card networks to give our consumers the widest range of choices, and are working on bringing more and more partners on board soon

Mr. HC Hong, President, and CEO, Samsung Southwest Asia, said, “Samsung Pay is an example of how we continue to push the boundaries of innovations to make life simpler and better for consumers. I am confident Samsung Pay will redefine digital payments and contribute to Digital India.”

“When we launched Samsung Pay, our goal was to enable consumers across the globe to make payments that are simple, secure and accepted almost everywhere. Over the past year and a half, this vision has evolved into building a complete digital wallet solution, allowing customers worldwide to not only make payments but also use membership and transit cards, receive deals and rewards and more,” said Mr. Thomas Ko, Global GM of Samsung Pay.

With its ‘Make for India’ initiative, Samsung is committed to building tailored products and services, customized to meet the needs of Indian consumers. Samsung Pay provides a mobile payment option built natively on the Unified Payment Interface (UPI), a payment system launched by the National Payments Corporation of India. The Samsung Pay UPI solution is powered by Axis Bank and facilitates peer-to-peer (P2P) transfer of funds between bank accounts on a mobile platform instantly. This is an upcoming feature within Samsung Pay.Samsung Pay also allows Indian consumers to integrate their Paytm accounts into Samsung Pay, enabling them to pay by scanning QR codes securely, generating one-time codes for merchant payments and also do peer to peer money transfers.

FAQ

What is Samsung Pay?

Samsung Pay is a secure and easy-to-use mobile payment service. You can add the credit and debit cards of participating issuers/banks on your Samsung Galaxy smartphones which allow you to make purchases almost everywhere.

How does Samsung Pay work?
Samsung Pay uses patented Magnetic Secure Transmission (MST) and Near Field Communication (NFC) to make contactless mobile payments.

Verify your fingerprint and place your phone near to the card reader or NFC reader to complete the transaction. Alternatively, enter your 4-digit Samsung Pay PIN* if you have chosen not to use the fingerprint feature.

In case prompted for a PIN, you may be required to input 4-digit Card PIN

Does Samsung Pay store my personal/payment information on a server or my device?

No. Samsung does not store your personal/payment information on a Samsung server or the device. Samsung Pay does not change the way your payment information is stored or handled when you make purchases. Your payment information will continue to be managed by your card network and the card issuer. Only a device-specific Token, which is used to replace your sensitive payment information, is stored on the device.

What is the difference between MST and NFC technology?

For Samsung Pay, either MST or NFC technology can be used to make secure, contactless transactions. The key difference is that almost all merchants can accept MST, which makes Samsung Pay the most accepted mobile payment service on the market.

How can I add Paytm wallet to Samsung Pay?

In Samsung Pay, Select ‘Wallet’ in the main screen of Samsung Pay and tap on ‘Add Paytm.' Using your mobile number, you will be able to link your existing wallet to Samsung Pay. In case you don’t have an existing Paytm wallet, a new one can be created through Samsung Pay.

What all wallet payment methods are supported by Samsung Pay?

Scan QR code, Show QR/OTP Code and Sending Money using phone number through Paytm is supported by Samsung Pay

How does scan code feature work?

Tapping on ‘Scan Code’ opens camera to capture on Samsung Pay. Point to QR Code, Enter Amount and verify using Fingerprint or PIN to complete your payment.

Can I add money to my Paytm wallet on Samsung pay?

Yes, Tap on ‘Wallet’ on main screen of Samsung Pay. Tap on ‘Add’ to open the add money page. Paytm wallet can be topped up using credit card and debit cards.

How does Show code feature work?

Tap on ‘Show Code’ to make merchant payments. Verification using fingerprint or PIN will reveal one time codes that can be showed to the cashier for payments.

How can I see my transaction history?

Tap on 'Wallet' on main screen of Samsung Pay App to open the wallet menu. Scroll below to 'Transactions' section to see transactions made on Samsung Pay. For entire list of all Paytm transactions select ‘View all’

If I delete Paytm account on Samsung Pay, what happens to my Paytm account?

The Paytm account will continue to exist, and users can access the wallet on the Paytm app, Paytm website and on partner websites where Paytm is linked as a payment option.

Do I need Paytm app on my phone to use Samsung Pay?

User can make payments using Paytm on Samsung pay irrespective of having the Paytm app on smartphone.

Samsung Pay willl be available for Upcoming J Series and more budget Phones.